Panama After Samurai Bonds

With its sights set on Japanese investment capital, Panama hired two banks to set up meetings with bond investors in Japan this week, Bloomberg Business Week reports.

A source who preferred to remain anonymous told Bloomberg that Daiwa Securities Capital Markets Co. and Mitsubishi UFJ Morgan Stanley Securities Co. are organizing the talks.

Panama’s goals are to raise at least $500 million in its first Samurai bond sale early next year and to lower its borrowing costs by selling debt in Japan, Finance Minister Alberto Vallarino said in September.

Panama is rated Baa3 by Moody’s Investors Service, the lowest investment grade.